Traders are preparing for the U.S. election, and the volatility of $BTC is significantly rising, but the market still tends to be bullish

gate News: According to The Block, as Trump's chances of winning in the prediction market declined after a series of Democratic opinion polls showed a positive trend, even falling below Vice President Harris' chances of winning on the US regulatory market Kalshi, BTC prices fell and the Fluctuation rose significantly. According to the analysis by Nick Forster, the founder of Derive.xyz (formerly Lyra), the overnight volatility of BTC and ETH soared, with BTC's volatility currently at 80.30%, higher than 72.20%, and ETH's volatility currently at 82.92%, higher than 75.40%. 'This rise reflects traders preparing for the election results, which could significantly impact market prices,' Forster predicts that there is a two-thirds chance that the election night will result in significant volatility, 'BTC's volatility range is between -8.97% and +9.85%, and ETH's volatility range is slightly larger, between -9.25% and +10.19%.' He pointed out that 'the total number of outstanding contracts for bullish options on BTC is 1,179, while the total number of outstanding contracts for bearish options is 885, which clearly indicates that despite potential volatility, the market still tends to be bullish'.
gate data shows that the price of $BTC has narrowed by 0.59% in the past 24 hours, with the current price at $69,338.30, Market Cap at $1.35T, and 24-hour volume at $154.84M.